CGI Inc. (NYSE:GIB) to Issue $0.10 Quarterly Dividend

CGI Inc. (NYSE:GIB) (TSE:GIB.A) announced a quarterly dividend on Thursday, January 30th,Wall Street Journal reports. Shareholders of record on Friday, February 14th will be paid a dividend of 0.1039 per share by the technology company on Friday, March 21st. This represents a $0.42 dividend on an annualized basis and a yield of 0.35%. The ex-dividend date is Friday, February 14th.

CGI has a payout ratio of 6.6% meaning its dividend is sufficiently covered by earnings. Research analysts expect CGI to earn $6.33 per share next year, which means the company should continue to be able to cover its $0.42 annual dividend with an expected future payout ratio of 6.6%.

CGI Stock Performance

CGI stock opened at $119.13 on Friday. CGI has a 52 week low of $96.92 and a 52 week high of $121.55. The company has a current ratio of 1.36, a quick ratio of 1.02 and a debt-to-equity ratio of 0.29. The stock has a market cap of $27.15 billion, a P/E ratio of 21.54, a price-to-earnings-growth ratio of 2.49 and a beta of 0.95. The stock has a 50 day moving average of $110.81 and a 200-day moving average of $111.27.

CGI (NYSE:GIB) (TSE:GIB.A) last posted its quarterly earnings results on Wednesday, January 29th. The technology company reported $1.41 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.41. CGI had a net margin of 11.72% and a return on equity of 19.59%. On average, analysts expect that CGI will post 5.85 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on GIB shares. Jefferies Financial Group reduced their price target on shares of CGI from $140.00 to $135.00 and set a “buy” rating on the stock in a research report on Tuesday, January 21st. Royal Bank of Canada reiterated an “outperform” rating and issued a $178.00 target price on shares of CGI in a research report on Monday, January 6th. Cibc World Mkts upgraded CGI from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 15th. CIBC upgraded CGI from a “neutral” rating to an “outperformer” rating and raised their price objective for the stock from $155.00 to $178.00 in a research note on Tuesday, October 15th. Finally, StockNews.com raised shares of CGI from a “sell” rating to a “hold” rating in a report on Friday, November 15th. Two investment analysts have rated the stock with a hold rating, three have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $150.75.

CGI Company Profile

CGI Inc, together with its subsidiaries, provides information technology (IT) and business process services. Its services include the business and strategic IT consulting, systems integration, and software solutions. The company also provides application development, modernization and maintenance, holistic enterprise digitization, automation, hybrid and cloud management, and business process services; intellectual property-based solutions; business consulting; managed IT services; and IT infrastructure services.